Cairo – Mubasher: Commercial International Bank (CIB) has filed with the Egyptian  Exchange to list shares of a rights issue worth EGP 68.06 million, or 6.8 million shares at EGP 10 par value each.

The bank’s rights issue is aimed to raise issued capital to EGP 11.54 billion, from EGP 11.47 billion.

CIB said the capital increase is fully paid in cash, as per a deposit certificate at 100% of the increase value. It added that the capital raise would be allocated for the employee incentive system.

CIB’s FY15 standalone net profit amounted to EGP 4.64 billion, up from EGP 3.65 billion a year earlier.